Mortgages  

Skipton meets broker demand for new-build products

Skipton Intermediaries has launched its first ever range of new-build intermediary exclusives with 7-year fixes, in response to broker feedback.

Brokers using the new-build products will get a preferential underwriting service and the ability to extend client offers for up to 12 months.

The new products allow for longer completion times and include the lender’s promise to make all core range purchase deals available to clients of new build houses up to 90 per cent LTV, excluding Help to Buy.

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In addition to its first ever new-build intermediary exclusives, Skipton Intermediaries is also launching three seven-year intermediary exclusives.

The products have a new 20 per cent per annum overpayment facility, along with free valuations, no completion or application fees and free standard legal fees for remortgaging customers.

Paul Darwin, Skipton’s head of intermediary relationships, said that the firm spends a great deal of time talking with brokers, using their feedback to devise new products.

“We know that increasing the supply of housing is important for homeowners and the economy and these latest products give clients more choice in their mortgage requirements.”

He added that the deals will be available on a first come, first served basis, for a limited time only, with brokers given five working days to submit all pipeline business following a withdrawal.

peter.walker@ft.com